Stock Market Today: Indian Stock Market Decline: The Indian stock market closed in the red on Tuesday due to major global policy decisions. The impact of the US Federal Reserve's decision was especially felt. At the end of trading, both Nifty and Sensex saw a decline.
Big drop in the market:
The Sensex closed at 80,684.4, down 1,064.12 points or 1.30 percent. The Nifty fell 332.25 points or 1.35 percent to 24,336. The market suffered losses due to selling in major sectors.
According to market experts, there is confusion in the market due to the policy decisions of the US Federal Reserve, Bank of England and Bank of Japan. These decisions can have a big impact on the market. Although the possibility of a rate cut of 25 basis points by the US Fed is already in the market, any aggressive move can put further pressure on the market.
Selling was witnessed across various sectors of Nifty, including PSU banks, auto, IT, pharma, FMCG, metals and realty sectors. Nifty Bank closed 746.55 points down at 52,834.80, while Nifty Midcap 100 and Smallcap 100 indexes also witnessed a decline.
Losses in major companies:
The companies that declined the most in the Sensex include big companies like Bharti Airtel, IndusInd Bank, JSW Steel, TCS, Asian Paints and Reliance. However, ITC was the only company that registered profit despite this decline.
Status of Rupee:
The Indian rupee remained stable near 84.90. The market is eyeing the policy decision of the US Fed on December 18. According to experts, the condition of the dollar index can affect the rupee. If the dollar weakens, the rupee may get some relief, but if any aggressive step is taken then the rupee may remain under pressure.
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